Majors on Tuesday: USD Trying to Rebound

Morning Lads,

The USD was once again in focus on Monday as traders in the US returned after a nice few days away from the screens. Attention was firmly on what sort of a response the US might have. It turns out that the USD fell to the level I spoke about yesterday 92.60, before staging a bit of a rebound.

The majors moved around a little with the JPY continuing to gain momentum and the EUR pulling back towards the 1.1900 level after a really strong prior week.

Forex Majors

AUD/USD – The AUD tried to rally but hit 0.7640 and sold off. Continue to target this resistance. Our sell signal is still live.

EUR/USD – The Euro Fell back towards the 1.1900. Looking for potential buys at and below this level.

USD/JPY – The JPY continues to be strong against most currencies and now the USD/JPY is bearish.

NZD/USD – The Kiwi looks to have put in a bit of a base and is trying to push higher. Will wait on price action and see if it can rally.

USD/CAD -The CAD is still in its longer-term range.

USD/CHF – 0.9750 is now the downside target in the Swissy.

GBP/USD – We’ve tried to break out, but that has failed. Although there is an uptrend in place.

US Dollar Index (DXY) – The USD has strengthened in early trade this week, but can it regain its strength?

US Dollar Index (DXY) – 240 min Chart.

ABOUT THE AUTHOR See More

Rowan Crosby

Asia-Pacific Analyst

Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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